It's also been a darling of short sellers for much of this year, though those betting on a stock decline, have started having second thoughts. That may be another reason the stock has gotten a decent boost.

Whatever the reason, SodaStream was drawing a lot of attention from StockTwits traders.

"The report is completely and totally untrue," a PepsiCo spokesman reiterated to me.

And as JPMorgan's Faucher points out, "We don't see much in the way of distribution leveraging" to justify a deal.

A Coca-Cola spokesman declined to comment, saying the company doesn't comment on market rumors or speculation.

ronin245$SODA see the pump then the dump, they run it up to get shrs off, totally legal but kind of shady

Interesting point. During premarket trading, the stock surged to $100 before backing off. But if you look at the short interest, it looks like those in the "betting on a decline" camp have been paring back all month.

Of course, short interest of 6.98 million shares is nothing to sneeze at. But that's down from the 8.2 million in January.

Mathematics$SODA they'll be bought and you'll never see the product ever again lol

Everyone's a critic (#humor). I think I'm more in Faucher's camp. With a partnership, you'd get the best of both worlds.

momomiester$SODA up which shows you this market is about momentum and technicals. There is no logic. The demand for "fresh" soda is unprecedented.:)

Is that irony? "fresh" soda. Anyone I've spoken with who owns a SodaStream machine is fiercely loyal to it. I think there might even be a soda lovers club out there somewhere, that's how much people who own those machines love them.

Catherine Tymkiw is a news editor at CNNMoney where she helps oversee breaking news coverage and futures planning. Previously, she was the investing editor. Prior to joining CNNMoney, she was the online editor at Crain's New York Business and has nearly two decades of reporting and editing experience. She tweets @ctymkiwcnn